LONDON - A few key British financial services companies - including unit trust fund management groups - are at serious risk of failing to comply with requirements to reprogram their computers for the turn of the century, according to the UK's chief financial services industry watchdog, the Financial Services Authority (FSA).

The FSA, which regulates more than 8,000 firms, further estimates that several hundred more financial services providers are still behind in their attempts to prevent major computer problems arising. But, these companies are likely to be in compliance by the end of this year, the FSA said.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.